Chapter2: Mathematics For Microeconomics
Section: Chapter Questions
Problem 2.16P
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![4. Verify that a homogenous function has IRS, CRS or DRS depending on whether the
degree of the function satisfies y> 1, y = 1, or y< 1.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6fe71589-55eb-49b1-8991-b6a0b3ca4044%2F77032880-4065-4003-be7e-a2a0a5b9c328%2Fd2st8tl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. Verify that a homogenous function has IRS, CRS or DRS depending on whether the
degree of the function satisfies y> 1, y = 1, or y< 1.
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